USD/JPY Price Analysis: Rallies and stalls around the 20-DMA, as buyers target 134.00

• A four-month-old downslope trendline break could shift the USD/JPY bias to upwards.
• USD/JPY Price Analysis: Neutral biased, but could turn bullish above the 200-DMA.

The USD/JPY advance towards the 20-day Exponential Moving Average (EMA) as Friday’s Asian Pacific session begins, though it remains shy of piercing the 133.82 area, following Thursday’s 0.60% gain. At the time of typing, the USD/JPY is trading at 133.42

USD/JPY Price Analysis: Technical outlook

From a technical perspective, the USD/JPY shifted its bias from downward to neutral biased. After the USD/JPY bottomed around 129.50, the major rallied 3% and reclaimed the 133.00 figure. Additionally, it’s testing a four-month-old downslope trendline drawn from 2022 highs above 150.00, which, once broken, could open the door for a test of the 200-day Exponential Moving Average (EMA) at 134.81.